Intel (NASDAQ:INTC) Releases Q2 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.10 for the period, compared to the consensus EPS estimate of $0.25. The company issued revenue guidance of $12.5-13.5 billion, compared to the consensus revenue estimate of $13.61 billion. Intel also updated its Q2 2024 guidance to 0.100-0.100 EPS.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Truist Financial reduced their target price on Intel from $45.00 to $33.00 and set a hold rating for the company in a research report on Friday. Barclays cut their price objective on Intel from $44.00 to $40.00 and set an equal weight rating for the company in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Intel from $37.00 to $35.00 and set an underweight rating on the stock in a research note on Friday. The Goldman Sachs Group cut their price target on shares of Intel from $39.00 to $34.00 and set a sell rating for the company in a research note on Friday. Finally, HSBC decreased their price target on shares of Intel from $44.00 to $37.00 and set a hold rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $39.75.

Intel Trading Down 9.2 %

Shares of INTC stock traded down $3.23 during mid-day trading on Friday, reaching $31.88. The stock had a trading volume of 119,742,494 shares, compared to its average volume of 50,613,192. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average price is $40.88 and its two-hundred day moving average price is $42.23. The firm has a market capitalization of $134.79 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. Intel has a 52-week low of $26.85 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The company had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same quarter in the previous year, the business earned $0.10 EPS. Intel’s revenue was up 9.7% compared to the same quarter last year. Equities analysts expect that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.